UK - Credit Suisse Asset Management has launched a £250m offshore property unit trust.
The fund – which will be targeted at pension funds and life offices – will invest in UK commercial property and be driven by strategic asset allocation and individual stock selection.
CSAM head of UK property Glenn Newson said the new fund had been launched in response to client demand for property after its repeated outperformance against equities and gilts.
He added: “This high income yield helps to match pension fund liabilities and the asset class shows very little correlation to the UK equity or bond markets, thereby providing an important source of diversification.”
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.